Dividends
Among the fundamental principles of the new plan emerges, the new dividend policy with a pay-out (the relationship between what is distributed to members and the net profit) resulted from the 60% to 65% with reference to profit by 2017, and 70% for the 2018 and 2019 (compared to 65% prior). The coupon, for 2017, will still be fixed at a minimum of 0.21 euro (was 0.18 per 2016).
Possible buy-back and disposals
Check the possibility of a buyback programme of own shares for € 2 billion maximum, to be submitted to the shareholders ‘ meeting this spring, and only activate if the electric unit fails in the intent to repurchase minority interests in Latin America, defined as a "strategic priority". In the next three years, the Enel intends to carry out asset sales to $ 3 billion and reinvest profits to € 4.5 bn, which includes not only the repurchase of minority groups in Latin America (and the possible buy-back), but also other acquisitions of small companies in networks (another 2 billion), 500 million to finance new investments. In general, Starace also raised the bar of “active portfolio management” (rotation of activities, in substance, a disposal) from 6 to 8 billion euros.
Digitization and customers
In the plane revisited the Enel introduces two new chapters specific to: scanning and attention to the customer. To digitize the its activities, operations, and enhance the connectivity Starace think to invest 4.7 billion euro, which should help increase the gross margins of 1.6 billion over the plan period. The digitization includes the networks, of course, but also smart meters. With more services to customers, the group wants to generate higher margins for 3 billion to 2019. The focus of the Enel moves more and more towards "the most important asset – the law – the portfolio of over 60 million end-customers".
Growth
The investments in the triennial will be equal to 20.9 billion (before 21,2), and the ratio of the maintenance/growth of 40/60. Almost all of those intended for the growth, confirms Starace, you will be in business without the risk of the market, such as networks (smart meters installed will rise to 48 million) and electricity generation units, however, to contracts of sale (to 36 Gigawatts in renewable energy sources already on the field, Enel intends to add other 6,7). Compared to the previous plan, the net profit ordinary of 2017 is set to rise to 3.6 billion, and that of the 2019 4.7 billion.
Salt the title, for example, on the referendum, Trump and Brexit
The Bag has celebrated the new plan. A Piazza Affari the company’s shares earn 3.73% to 3,784 euro, with volumes amounting to 20.8 million units changed hands compared to an average of 37.6 million in an entire session of the last month.
to Starace at the presentation of the plan has also said that “I do Not see impact on the outcome of the referendum” on the energy sector. “The regulatory changes have already been introduced, and already there was a negotiation phase on the rates of distribution, an agreement was reached also on the remuneration of the smart meters, and a solution for the transit to the free market. Remain to establish the detail for the transition after June 2018, and other issues pending, such as those on capacity,” he added Starace, who then commented on the election of Trump: “No one knows what will be his policies, I can only say that the United States have successfully carried out an energy t ransition, and have dealt with in a rational and valid, the question of energy. We know that the commitment to renewable energy is also underway in the States of strong republican beliefs, then we do not believe there will be a revolution”. And on Brexit “The United Kingdom is a little uncertainty there is, there is no doubt. But in other parts of the world, there are other uncertainties, so at the moment there are actually safe, where everything is defined.”
November 22, 2016 (change on November 22, 2016 | 11:20)
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